Benzinga | Dec 9, 2021 09:44PM EST

Thomson Reuters Announces Receipt of Binding Offer from Karnov Group to Purchase Legal Business in Spain; Financial Terms Not Disclosed

Thomson Reuters announced today that it has received a binding offer from Karnov Group ("Karnov") to purchase Editorial Aranzadi SAU ("Thomson Reuters Legal Business Spain"). As part of the offer, Thomson Reuters Legal Business Spain is intended to be combined with and sold in conjunction with Wolters Kluwer France S.A.S ("Wolters Kluwer France") and Wolters Kluwer Espaa, S.A. ("Wolters Kluwer Spain").

While the proposed sale includes Thomson Reuters' legal products and solutions specific to Spain, Thomson Reuters will continue to serve the Spanish market through its global content-driven technology solutions, including Westlaw International, Practical Law, Contract Express, ONESOURCE, Confirmation and HighQ, among others.

"As a key player in content-driven technology, this transaction will allow us to focus on serving the Spanish market through our first-class global product suite. It will also enable us to further invest in key areas where we can deliver the most impact for our customers," said Steve Hasker, president and CEO of Thomson Reuters. "We believe this business will see continued success and growth under its new ownership."

"With shared history and values, we see the proposed transaction with Thomson Reuters as an attractive opportunity to further grow a strong and respected business," said Pontus Bodelsson, CEO of Karnov Group. "As the digital transformation progresses, we're especially eager to serve customers in this market with the high-quality products and services required to most effectively do their jobs."

Upon receipt of the offer, Wolters Kluwer and Thomson Reuters have granted Karnov an exclusive period of discussions. A transaction would be conditional upon antitrust approval in Spain.